On the evening of December 30, Ningde Times issued an announcement showing that the board of directors of Ningde Times has approved relevant investment projects and plans to invest no more than 24 billion yuan to build the seventh to tenth phase of the power battery manufacturing base in Yibin.Ningde Times stated that with the rapid development of new energy vehicle markets at home and abroad, the market for the power battery industry continues to grow. In order to further promote business development and meet market demand, the company plans to invest in the expansion of the Yibin project.
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According to previous announcements, CATL and Yibin City have successively signed Sichuan Times Power Battery Phase I to VI projects since 2019, with a total investment of more than 30 billion yuan and an area of about 3,000 acres. According to this, the total investment in the Yibin Base of Ningde Times will reach 54 billion yuan.
The relevant person in charge of Ningde Times told the reporter of “Securities Daily” that Yibin has a good transportation foundation. After the completion of the project, the logistics time will be within 3 hours, and the power battery can appear on the production line of the vehicle factory in Chengdu or Chongqing, and Yibin owns it. Abundant water resources can meet the emission reduction requirements of manufacturing and achieve carbon neutrality in the life cycle of power batteries.
It is worth mentioning that CATL’s announcement also shows that the company has signed a supply framework agreement with Zhejiang Yuanjing, a subsidiary of Geely Group. It is estimated that the total supply volume will not be less than 57GWh from 2022 to 2026.
Data shows that from 2018 to 2020, the amount of transactions between CATL and Zhejiang Vision reached 5.719 billion yuan, accounting for 5.58% of the company’s cumulative operating income from 2018 to 2020.
Lithium battery industry analyst Mo Ke analyzed to the “Securities Daily” reporter that the long-term supply agreement between Geely Group and Ningde Times also reflects the urgent demand for battery supply from OEMs this year. From the market forecast, the future of new energy vehicles The market will continue to increase its holdings, and the demand for power batteries will continue to increase.
It is reported that Ningde Times began to invest in Yibin in 2019. At the same time, Ningde Times and Geely Group have established a joint venture company, Times Geely, of which Ningde Times is the 51% controlling shareholder. The Yibin project of Geely with an annual output of 12GWh power battery has also started, with a total investment of 8 billion yuan, covering an area of 500 acres. It is planned to be put into production in 2022. The products will mainly support new energy models of Geely, Lynk & Co and other brands.
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